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Incurred but not Reported Losses
(redirected from IBNR)

   Also found in: Acronyms 0.01 sec.
Incurred but not Reported Losses
A claim that an insurer has not yet paid. Incurred but not reported losses do not show up in the insurer's expenditures because of the non-payment. However, they do form part of the insurer's liabilities.


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44 of IBNR is needed for every $100 of known case reserves when a hospital retains $1,000,000 per occurrence.
The insurance company estimates the losses it believes have been incurred but not yet reported and sets aside money to pay them in an IBNR reserve.
A few major companies, however, have eliminated IBNR charges from their contingencies.
 
 
 
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